| COAL, OIL & GAS GEO-POLITICAL RISKS |
| Coal reserves are also geographically diverse, being spread over 100 countries and all continents. More than 70% of oil reserves are located in the Middle East, and more than 70% of gas reserves are in the Middle East and the former Soviet Union. Countries without coal reserves can safely rely on imported coal. Security of imports is assured by the competition between the many coal supplying countries of the world, and also because coal can usually be transported by secure sea routes. |
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